Petratherm starts MT survey on Tenerife Canary Islands

Punta de Teno, Tenerife, Canary Islands, Span (source: flickr/ engerundio, creative commons)
Alexander Richter Alexander Richter 28 Mar 2012

Australian developer Petratherm has started the initial phase of a large MT survey on the islands of Tenerife and Gran Canaria, Canary Islands belonging to Spain.

Australian geothermal developer Petratherm (ASX: PTR) reports it “has started the first phase of a large magnetotelluric survey on the Island of Tenerife, Canary Islands, to determine if the target clay cap is suitable for geothermal drilling and development.

The current phase consists of reconnaissance traverses that will map the clay cap from the central volcanic cone to the lower coastal areas.

This will be followed by second campaign, most likely in May 2012, to infill and expand in the areas which look the most promising for drill testing.

The survey is funded by the previously announced Spanish Federal Government Grant of over A$1 million, to characterise the geothermal resources of the Canary Islands.

This grant was awarded to a consortium including the Institute of Technology & Renewable Energy; University of Barcelona; University of Laguna; and the Institute of Volcanology, Canaries.

Almost all of the work will be conducted on the islands of Tenerife and Gran Canaria.”

Source: Proactive Investors